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Rompetrol Rafinare's financial results in the first half of 2021
Rompetrol Rafinare, member company of the KMG International Group, recorded increasing financial results in the first half of this year, compared to the same period of 2020, as a result of the increase in sales, along with the positive evolution of international quotations for petroleum products.
"The relaxation of the restrictive measures, caused by the COVID-19 pandemic, led to an increase in mobility, and the operational processes were at a level in line with the market demand, which registered a positive trend. Occurred immediately after the closure of the first semester, the unfortunate incident on the Petromidia platform will have negative effects from an operational point of view, given that the production of the refinery is stoped, until we will finalize the repair works in the affected units. However, we are convinced that, in the last quarter of the year, we will return to normal operational capabilities, and our mission is to ensure stability in the petroleum products market, in full compliance with legal norms and respecting safety measures for employees, facilities and communities in the area", said Felix Crudu-Tesloveanu, General Manager of Rompetrol Rafinare.
In the first six months of 2021, the Petromidia refinery operated without interruption, compared to the first half of 2020, when the largest profile unit in Romania was closed for the general turnaround of March-April 2020. Also, the demand, strongly affected by the pandemic context in 2020, has returned to levels similar to those of 2019.
The gross turnover of Rompetrol Rafinare in the first half of the year reached almost 2.3 billion dollars, and the operational profit (EBITDA) had a positive value of about 69 million dollars, compared to the negative value of 43.6 million dollars in H1 2020.
Also, there was an improvement from the net negative result in H1 2020 - 126.5 million dollars, the net loss in H1 2021 being 22.8 million dollars.
Rompetrol Rafinare continued to be an important contributor to Romania's state budget in the first part of the year, with a contribution of 459 million dollars in the second quarter of the year, respectively 838 million dollars in the first half of 2021.
The gross turnover of the refining segment reached just over 1 billion dollars in Q2 2021 and 1.8 billion dollars in H1 2021, an increase compared to the same periods of the previous year. The increase is marked by an increase in the refining margin, from 5.5 USD / t in H1 2020, to 27.5 USD / t in H1 2021.
Petromidia Refinery, which represents approximately 40% of the refining capacity in Romania, processed, in the first 6 months of 2021, a total of 2.72 million tons of raw materials and obtained 701 kt of gasoline, respectively 1.37 million tons of diesel and special aviation fuel.
In the first half of 2021, Petromidia refinery managed to obtain good results in the yield of white products (84.67% wt) and the energy intensity index (100.95%).
In turn, the Vega Ploiesti refinery, the only domestic producer of bitumen and hexane, processed 188 kt of raw materials in the first half of the year. The unit in Ploiesti recorded good results regarding energy consumption (2.56 GJ / t) and mechanical availability (98.7%).
In the first half of the year, Rompetrol Rafinare made exports worth 545 million dollars, up 238 million dollars over the same period in 2020 (307 million dollars).
In H1 2021, in the company's petrochemical segment there was processed 72 kt of propylene. The total production of polymers was 68 kt, and the sales volume was at the same level as in H1 2020 - 71 kt.
The results of the petrochemical division registered significant increases, as a result of the positive evolution of the quotations. The division's gross turnover was 115 million USD, and the net result was positive, 4.4 million USD.
The petrochemical complex is the only producer of polypropylene and polyethylene in Romania, constantly managing to increase its market share by secondary product categories.
The consolidated gross turnover for the distribution segment was over 1.5 billion USD in the first half of the year. Also, operational profit (EBITDA) was 42.3 million USD in H1 2021, while net profit a value of 15.3 million USD.
Fuel sales (in the retail and wholesale area), for the first six months of 2021, amounted to about 1 million tons, an increase of 22% compared to the same period last year.
At the end of June 2021, Rompetrol Downstream's distribution segment comprised 1068 points of sale, including its own network of stations, partner stations and mobile stations (express, internal bases of 9 and 20 cubic meters).
Department of Communication and Public Relations
KMG International